Microfilm Scanning and AI-Based Financial Statement Extraction
Use case scanfactory
Project description
Scenario
A major Belgian financial institution required the digitization and organization of its extensive microfilm archive containing historical financial statements. These documents were essential for compliance and research purposes, but they were only available in microfilm format, making access and processing cumbersome.
The institution sought a solution to digitize these archives, classify the documents, and make them searchable, enabling faster and more efficient compliance reporting and research.
Youston delivered a tailored solution combining advanced microfilm scanning technology and AI-based document extraction to meet this need.
Challenges
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1. Digitizing Historical Microfilms
Challenge
The microfilm archives contained large volumes of historical data that needed to be digitized without loss of quality.Solution
Youston utilized professional microfilm scanners, ensuring high-quality digitization of all images while preserving the integrity of the historical records. -
2. Document Recognition and Classification
Challenge
The microfilms stored multiple financial statements per roll, which needed to be split and classified into individual records.Solution
Youston implemented AI-powered analysis to automatically recognize and classify different document types, such as financial statements, based on predefined patterns and attributes. -
3. Metadata Extraction and Searchability
Challenge
The institution required an efficient way to search for financial statements by year, type, or film number.Solution
AI-based pattern recognition extracted metadata (e.g., year and document type) from the scanned images, creating fully searchable digital archives.
Key benefits
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High-Quality Digital Archives
Advanced microfilm scanning ensured that the digitized images retained all necessary details, enabling accurate document extraction and long-term preservation. -
Automated Document Processing
AI technology eliminated manual document splitting and classification, drastically improving processing speed and accuracy. -
Enhanced Searchability
The digitized archive allowed users to quickly search and retrieve financial statements based on metadata such as year, film number, or document type. -
Compliance and Efficiency
The solution significantly streamlined compliance reporting, saving time and improving accuracy compared to manual methods.
Transformative impact
With Youston’s innovative solution, the financial institution transformed its microfilm archives into a fully digital, searchable resource that:
- Boosted Operational Efficiency: Automated processes drastically reduced the time required to process and retrieve financial statements, enabling faster compliance reporting.
- Ensured High Accuracy: AI-powered extraction ensured precise classification and assignment of documents, minimizing errors associated with manual processing.
- Preserved Historical Records: High-quality digitization safeguarded the integrity of the financial statements for long-term use and compliance needs.
- Enhanced Accessibility: The digital archive made it easier for staff to access and utilize historical financial data, improving productivity and decision-making.
This combination of cutting-edge technology and tailored workflows set a new standard for digitizing and processing large-scale historical archives.
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Relevant services
Archiving
Free up space and store your documents in our fully controlled facility, managed by professionals. Need 24/7 accessibility? We ensure retrieval within 60 minutes.
Digitization
Scanned, indexed and backed up online. The future of your archive is digital. Our promise: access from anywhere at any time, 0% risk of data loss and 100% trust.
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